f.a.q.

Frequently Asked Loan Questions

What type of loan can I get from Iggy Loans?

Iggy Loans offers short-term small dollar loans for the purpose of meeting your needs until your next pay date.

What is an Iggy Loan used for? Use your loan for bills, unexpected car or home repairs, or pad your bank account to avoid overage fees.

Iggy Loans are used for the same things any short-term loan is used for. Usually to tide you over when you're short on cash. Borrowers use our loans to pay for unexpected bills, to cover a bank overdraft or non-sufficient funds fee, or to avoid putting charges on a credit card.

How much can I borrow?

First-time borrowers can borrow up to $500 depending on income and pay schedule. After paying off your loan you will be eligible for a gradual increase on any future loans taken out up to $1500 as long as your account remains in good standing with Iggy Loans.

Why do I have to apply online?

Our online application provides privacy, security, convenience, and the fastest response possible. By applying online we can give most of our customers an immediate response to their application. It's also safe to apply online - our applications are taken in a secure web environment. Look for the "https" in the website address bar to know that you are on a web page where information is transmitted securely.

What do I need to apply for an Iggy Loan?

Employment or source of qualified income

Working email address and phone number

Checking or Savings Account in good standing with Direct Deposit enabled.

Be at least 18 years old

Be a U.S. Citizen

Does it matter if I have bad credit?

We do not check the major creit bureaus when you apply for a loan. Iggy Loans is here to help people who are most in need of emergency cash and do not qualify for traditional bank loans. We understand about credit issues, so we don't use credit as a qualifying factor for receiving a loan.

Why do you need my employer information?

We need to contact your employer to verify your employment as stated in your application. We respect the privacy of our applicants and we will never disclose any information about the nature of our business to your employer. Our loan processing agents are very discreet and will only contact your employer in order to verify your employment.

What do you need to know about my bank account?

We need to verify that the information provided with your application was correct and that it hasn't changed since you applied for a loan. Having accurate bank info is necessary to allow us to deposit your funds without any delays or complications. To verify bank information our loan agent may conduct a bank call with both you and your bank on the line.

We also must ensure that your payment due date(s) will coincide with your pay schedule or direct deposit schedule. In order to do this our loan processing agent will ask about your last two direct deposits and your account balance.

How will I know if I have been approved?

Check your email for your loan approval confirmation. It only takes minutes to be approved.You will be contacted by phone or email. Email regarding your loan will come either from Iggy Loans or from eFinance Support. If you have not received a response to your loan request within ten minutes of submitting your application, please check your spam folder or junk e-mail folder to make sure the response hasn't been re-routed to one of those folders. If you still do not see any communication from us, please call us toll-free and we will re-send you an approval email if you have been approved for the loan.

How will I receive my Iggy Loan?

We use direct deposit - called an ACH or EFT transaction - to send the funds directly to your bank account. The process is automatic, convenient, and secure.

When will I receive my Iggy Loan?

We will process your application quickly; most borrowers receive their funds the next business day.

Usually we will need to speak with you over the phone in order to confirm your loan request and verify the accuracy of your application. By making yourself available to be contacted and checking your email often for communication you will speed up the loan process.

Your loan processing time can be delayed if your application contains inaccurate, false, or incomplete application. Please make sure your application is filled out as completely and accurately as possible.

When is my loan due?

Once you have received your funds you may login on the website to view your due date and balance.

Loan due dates are dependent upon your pay schedule. If you get paid twice a month, your loan will be due on your upcoming pay date. If that date happens to fall less than 5 days from the date you are approved, we will set your due date for the following pay date up to 16 days away so that it is easier for you to make your payment.

* Be sure to talk to your loan representative about different terms if you are paid weekly or monthly.

What is the finance fee?

The finance fee is typically 30% of your principal loan amount.

The loan processor will explain the terms to you over the phone, including the specific finance fee based on your loan amount and due date. The finance fee is also covered in the loan documents that are emailed to you and are specific to your approved loan amount.

Once you have received your funds you may login on the website to view your due date and balance.

The amount due on your due date depends on the amount that you borrowed and how soon your paydate occurs after your borrow date. You are required to pay the finance fee on your due date, but it is a good idea to also make a payment on the principal of the loan if you have the funds to do so.

In some cases, if your paydate falls within ten days of the day that you receive your funds, you may be offered half off of your first finance fee.

How do I repay? Do I pay off the loan in one payment or in installments?

At least the finance fee will be due on your next paydate. As a short-term loan, it is beneficial to you to repay as soon as possible to avoid roll-over fees.

To repay, you must phone us no less than 24 hours prior to your next due date to set up a payment arrangement if you would like to paydown or payoff your loan.

We accept smaller principal payments on your due dates if your current budget does not allow for a full payoff at this time. The payoff options are as follows:

If you do not contact us, we will deduct only the finance fee from your account.

Contact us at least 3 days before your due date to schedule a finance payment and partial payment of your principal balance.

Contact us at least 3 days prior to your due date to schedule a complete payoff of your principal balance and any finance fees.

How can I recognize the payment descriptor on my bank records?

Depending on the network and processor used to draw funds from your account, the payment description from your bank may vary but, it will always provide a phone number within the payment description for your reference. Please feel free to use that number or contact us at 1-855-554-4449 during normal business hours if you have any questions or concerns related to charges on your account. We are happy to assist.

Iggy Loans Mobile VIP

Become an Iggy Loans Mobile VIP and be the first to know on the go with exclusive offers by text.

To join, text IGYSITE to 82156.

CONTACT US

*Your Name:

*Your E-mail:

Your Message:

IggyLoans.com is owned and operated by Sierra Financial, LLC dba Iggy Loans, a tribal lending entity wholly owned by the Iipay Nation of Santa Ysabel, a federally recognized Indian tribe, that operates and makes loans within the Tribe’s reservation. All loans are subject exclusively to the laws and jurisdiction of the Iipay Nation. Carefully review the Terms and Conditions for more details.

The Operator of this website is a lender and will use any information provided in the secure application only in an attempt to fulfill a loan request. If IggyLoans.com does not approve the loan application, the Applicant’s information may be forwarded to other lenders in an attempt to connect the Applicant with a lender who is able to fulfill the request.

Fund Transfer times may vary depending on each individual's financial institution. In some cases, faxing may be required.

Sierra Financial, LLC dba IggyLoans.com does not provide short term loan services to those who live in the following states: Arkansas, Colorado, Georgia, Kansas, Massachusetts, Maryland, Missouri, New Hampshire, New York, Pennsylvania, Washington and West Virginia.